A political economy interfaces politics and economics. For the U.S.A., when government regulation quality and understanding is lacking the private sector and government investment goes to seed; the ecosystem declines, economics serve capital concentration entirely for its own sake rather than national citizenry well-being, national financial balances run tens of trillions of dollars of deficits, and wealth is concentrated to the point of creating a virtual aristocracy or plutonomy.
Remedies exist that are obvious, yet the corporatism phenomena of the private sector merging with the government that becomes a servo-unit for it following it about has negated the selection of quality political candidates and oversight.
Patents can be reformed such that exclusivity exists for just three years with 10% royalties to patent holders from anyone in the common domain era after three years, Regulations can be made to reward quality production that reduces mal-effects on the ecosystem. Capital acquisition by individuals can be capped at a percent of the national income that is low enough to prevent political power from being concentrated as well as economic, and ecological economics can become a guiding principle for the political economy, instead of being a vague outline in the shadows.
Conflict isn’t inevitable with shared items. In primitive societies with few kinds of tools people will give an item admired by someone else to them, since it reduces jealousy or conflict, and is easily replaced. Scarcity of an item is an element in the function of covetousness and conflict over an item. Few are jealous about sharing air because their is a lot of it. Some are jealous about water where it is more rare, others have a lot of it and would toss a bucket of it on someone to cool them down. Exclusive use of an item or space may be necessary to produce a particular article. In a global economic system individuals and corporations rather than nations take profit from resources of other nations (unless one has a state socialist government then that government does harvest the resources of other nations).